FIRM Act
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Topic: Finance and Financial Sector
Sponsor: Sen. Scott, Tim [R-SC] (R) - SC
Summary
This bill prohibits the consideration of reputational risk by federal banking agencies when regulating, examining, or supervising a depository institution or credit union. The bill defines reputational risk as the potential for negative publicity or public attention to decrease confidence in the institution, lead to litigation, reduce revenues, or result in other adverse impacts to the institution.
Agencies must report on the implementation of this bill.
Legislative Subjects
Banking and financial institutions regulation; Congressional oversight; Finance and Financial Sector; Financial services and investments; Government information and archives; Government studies and investigations
Latest Action
Placed on Senate Legislative Calendar under General Orders. Calendar No. 32.
2025-03-18
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